The following selected accounts appear in the ledger of Upscale Construction Inc. at the beginning of the current year:

Preferred 2% Stock, $80 par (200,000 shares authorized, 65,000 shares issued) . . . . . . . .$ 5,200,000
Paid-In Capital in Excess of Par—Preferred Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 360,000
Common Stock, $12 par (3,000,000 shares authorized, 1,400,000 shares issued) . . . . . . . .16,800,000
Paid-In Capital in Excess of Par—Common Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,290,000
Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110,900,000

During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows:

a. Issued 220,000 shares of common stock at $15, receiving cash.

b. Issued 6,000 shares of preferred 2% stock at $94.

c. Purchased 130,000 shares of treasury common for $19 per share.

d. Sold 70,000 shares of treasury common for $23 per share.

e. Sold 40,000 shares of treasury common for $17 per share.

f. Declared cash dividends of $1.60 per share on preferred stock and $0.14 per share on common stock.

g. Paid the cash dividends.

Instructions
Journalize the entries to record the transactions. Identify each entry by letter.